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Corporate News 20 Sep 2017

About 14.5m EPF contributors may be impacted by PLUS sale

KUALA LUMPUR: There is rising concern that some 14.5 million contributors to the Employees Provident Fund (EPF) may lose out on a steady stream of dividend income if the pension fund sells its 49 per cent stake in highway operator, PLUS Malaysia Bhd.

Insurance 20 Sep 2017

Great Eastern to sell stake in Malaysian ops for RM4.19bil

PETALING JAYA: Great Eastern Holdings Ltd is reportedly planning to dispose of its stake in its Malaysian operations for as much as US$1bil (RM4.19bil).

The WSJ said both Prudential and Tokio Marine planned to sell close to a third of the shares in their Malaysian units. These deals could potentially raise US$3bil collectively over the next nine months.
Markets 15h ago

European shares steady before German vote as N.Korea tensions weigh

MILAN: European shares steadied on Friday amid fresh tensions over North Korea but remained near recent highs ahead of this weekend's general election in Germany, where conservative Chancellor Angela Merkel is expected to win a fourth term.

File pic
Banking 1h ago

Troubled Commerzbank lures list of buyers

COMMERZBANK AG may not be your first pick if you’re looking to expand in European banking. Bailed out by the government in 2009, it’s still struggling to make money in Germany’s notoriously cut-throat consumer market.

Corporate News 20 Sep 2017

Hock Seng Lee declares end to court case involving family feud

KUALA LUMPUR: The family feud revolving around the transfer of shares in Hock Seng Lee Bhd’s (HSL) holding company has reached a conclusion, at least in court.

Datuk Paul Yu Chee Hoe was one of the defendants in the suit.
Forex 21h ago

Forex: Won extends losses; yuan firms

The following table shows rates for Asian currencies against the dollar at 0138 GMT 0938 (Malaysian time) on Friday Sept 22.

Business News 1h ago

China’s command economy

ONE hedge fund investor says Kyle Bass, Jim Chanos and other China bears are missing a key piece of the equation. Global investors have underestimated the power of China’s command economy, where leaders can cancel or forgive debts and control the currency, Mark Yusko, chief investment officer of Morgan Creek Capital Management, says in an interview.

Controlled market: A man walks past a construction site in Beijing. China’s unique ability to control its market ensured that predictions of a yuan crash, a debt crisis and an economic hard landing didn’t play out.
Business News 19h ago

Gold gains amid N.Korea concerns, but heads for second weekly decline

BENGALURU: Gold rebounded from a four-week low on Friday as the latest twist in tensions between the United States and North Korea prompted investors to seek out the safe-haven asset.

Business News 1d ago

CEOs of Norwegian Air and Ryanair in public spat

DALLAS: Norwegian Air “is not long for this world,” says Michael O’Leary, the chief executive of Ryanair Holdings Plc, itself in turmoil thanks to a pilot-staffing pinch that’s killed travel plans for hundreds of thousands of customers.

Turbulent times: O’Leary has his own troubles, some of which he might attribute to Norwegian. — Bloomberg